December 6, 2021

Compensation Watch ’21: BKD Is Handing Out Mid-Year Raises But It’s Anyone’s Guess As to How Much

BKD employees have something in common with employees of BDO USA and Grant Thornton … besides working in the hellscape that is public accounting: They supposedly are getting mid-year raises but have no idea about how much they are going to get. From the tipline last weekend: BKD also announced a significant pay increase effective in January. […]

KPMG Poaches Someone From EY and Issues a Press Release, Part VIII

Just like our waistlines over Thanksgiving weekend, the tax practice at the Queen’s KPMG got larger earlier this month with the addition of three new partners. Candice Nichol, a tax lawyer with 14 years of experience, joined KPMG as a deal advisory tax partner in London from international law firm Simmons & Simmons, while Justin […]

Black Friday Footnotes: Carillion Liquidator Wants Lots of KPMG Money; EY Can’t Handle the Truth; Mattel and PwC Settle with Investors | 11.26.21

Carillion Liquidator Seeks $336 Million From KPMG [Bloomberg] The U.K. government agency charged with liquidating Carillion Plc has lodged a claim at the high court against auditor KPMG, the Sunday Times reported. The official receiver has accused KPMG of negligence in its audit of the U.K. contractor and quantified claims of about 250 million pounds […]

a remote highway and mountains

EY Global Chairman Carmine Di Sibio Warns Zoomers Their Careers Are Screwed If They Stick to Remote Work

EY Global Chairman Carmine Di Sibio wrote a piece for Quartz recently on how young professionals can navigate today’s hybrid work environment (well, his communications team did anyway) and we found a few bits particularly noteworthy for early-career accountants eager to get ahead in today’s, uh, interesting work environment. You might want to grab a […]

2022 Accounting Internship Programs, Ranked

Winter is coming, and new stars will soon be born in public accounting as the latest wave of interns are about to flock to a windowless cubicle near you. And just in time for the arrival of this latest group of fresh, smiling-faced youngsters is Firsthand’s (formerly Vault.com) ranking of the top accounting internship programs […]

BDO Is Moving Into Ronald McDonald’s Old Stomping Grounds

If someone were to say, “BDO is fucking clown shoes,” he or she wouldn’t be wrong. And it’s not because of the firm’s horrendous auditing of late. It’s because a BDO USA digital advisory business will soon be based in “The House That Ronald Built.” On Nov. 10 Crain’s Chicago Business reported: The billionaire hair-care […]

RSM US Names Successor to CEO Joe Adams

[Updated with official announcement from RSM US below.] A tipster just informed us that RSM US announced this morning that Brian Becker, the firm’s national consulting leader, will succeed Joe Adams as RSM manager partner and CEO effective Aug. 31, 2022. As national consulting leader, a role he has held since April 2017, Becker leads […]

Here’s What It Would Be Like If the New PCAOB Members Were Introduced At a Basketball Game

And now … your NEW starting lineup for the Peeee Ceeee Aaaay Ooooh Beeee! From Edinboro University, she has 28 years of experience in public finance, policy development, accounting and auditing, disclosure modernization, data analytics, and technology innovation. A former Deloitter, she has held senior financial roles at the Treasury Department and the University of […]

EY Poaches Someone From PwC and Issues a Press Release, Part VII

Rebecca Rennison recently entered the Big 4 transfer portal as a director at PwC UK and exited as a partner at EY. EY recently announced Rennison and Richard Pulford as its most recent senior hires in the firm’s Manchester corporate finance team, according to Insider Media: Rebecca Rennison also joins EY with more than 20 […]

Big 4 Item of the Week on eBay: PwC Stamps

Looking to buy PwC Global Chairman Bob Moritz a gift for the holidays? We have two ideas for you from eBay: An autographed 8-inch by 10-inch photo of Bebe Rexha because BoMo is apparently a big fan. A full sheet of stamps from 2005 commemorating PwC’s 85th year in Uruguay. Here’s what the stamps look […]

Friday Footnotes: KPMG Sued (Again); Accounting For Weed; Less Travel Equals Profit For EY Partners | 11.5.21

.CPA Web Domain Launches in Canada [Business Wire] The restricted web domain, administered by the American Institute of CPAs (AICPA) and its business and technology arm, CPA.com, officially launches in Canada this morning at 11 Eastern time. To be eligible, Canadian CPAs and CPA firms must be licensed. Preferred names will be awarded on a […]

ey orlando

EY Pats Itself On the Back For Not Blowing As Many Audits As Before

Last month the PCAOB teased the results of its 2020 inspection reports by saying audit firms were getting better at not being awful at auditing. From the PCAOB’s Staff Update and Preview of 2020 Inspection Observations: For the majority of the annually inspected audit firms, we identified fewer findings in 2020 compared to our 2019 […]

Does KPMG Lakehouse Have Hairdryers?

Not sure if Going Concern readers and random Googlers who end up in this sacred temple of Big 4 gossip are aware, but we can see the keywords you search prior to clicking through onto our site. And man, some of them are disturbing, due in part to the fact that we’ve written about questionable […]

Big 4 Item of the Week on eBay: EY Pedometer

All you health nuts and fitness freaks who spend each and every day building a better working world can hop on over to eBay and purchase this unused EY pedometer. Unshackle yourself from your desk and bust out this black and yellow step-counter the next time you walk to the break room or take that […]

ESG Is the Next ‘Hot Thing’ In Accounting, Say MIT Researchers

For years we’ve been hearing how blockchain and AI will transform accounting, and this recent article from MIT Sloan School of Management (aka MIT Sloan) about the five forces remaking accounting gives them both the obligatory nod. But we’re not here to talk about blockchain. We’re here to talk about ESG. After a brief introductory […]

It’s True: PwC Had a Nearly Flawless 2020 PCAOB Inspection Report

The PCAOB blessed us this morning with its first batch of 2020 inspection reports, which included BDO USA, Deloitte, EY, Grant Thornton, KPMG, and the highly anticipated one for PwC. Back in August PwC released its 2021 audit quality report, which included a lot of bragging about how much more competent P. Dubs’ auditors have […]

NEW Remote Audit and Tax Career Opportunities

If you are interested in a fully remote professional opportunity, apply today using the links below! Talent search for all positions is managed by Accountingfly on behalf of the client firms. Remote Audit Jobs Remote Audit Manager CPA – CPA firm located in Northern Virginia is hiring an Audit Manager responsible for supervising, directing, and reviewing […]

We Get It Lady, You Work For Deloitte

There’s a disturbing social media trend afoot, and no it’s not sex workers claiming to be accountants on TikTok. Over the last few years, LinkedIn has gone from a useful tool for professional networking to Letters to Penthouse for business. Y’all know what I mean. The long, rambling posts littered with hashtags — often written […]

Big 4 Item of the Week on eBay: Peat Marwick Cap

Klynveldians, forget about all of the dark blue and plain white Phil Mickelson KPMG golf hats currently on eBay. If you want to look good even if you don’t play good the next time you have a tee time scheduled (probably sooner than later for many of you KPMGers), then you need this rare teal […]

Friday Footnotes: Deloitte Complains Its Way to a Contract; Deficiencies Abound; Beyond the Windowless Audit Room | 10.22.21

How CPAs can rise above a polarized political climate [Journal of Accountancy] Aside from being prepared for these possible changes, [Publisher and editor-in-chief of The Cook Political Report Amy] Walter recommends that CPAs break away from the polarization that has made each side feel like an election is an existential fight for the real America. […]

EY US Chair Kelly Grier Will Not Seek a Second Term

Kelly Grier, EY US chair and managing partner and Americas managing partner since July 2018, announced during an all-hands call this morning that she will not pursue a second four-year term. A tipster told us that Grier said “it was a personal decision and had nothing to do with the strength of the firm.” Her […]

We Now Know the Buyer of PwC’s Global Mobility Services Business

After months of rumors and speculation online about whether or not PwC was selling its global mobility services business and, if so, to whom, we now have answers to both questions: Yes and private equity firm Clayton, Dubilier & Rice. Here’s the press release that just hit our inbox: Clayton, Dubilier & Rice and PwC […]

Big 4 Item of the Week on eBay: Price Waterhouse Portfolio Briefcase

Attention PwCers in St. Louis: Be the envy of your office with this retro Price Waterhouse (sans Coopers) dark brown leather portfolio briefcase. It has the Gateway Arch on it and everything. Imagine yourself rocking this pre-owned briefcase at the client site or at the office’s next pizza party. Here are some pics from the […]

Here’s a Cringey EY Rap Anthem to Begin Your Workweek

Happy Monday, GC faithful. One of the things we here at GC headquarters have enjoyed sharing with you through the years are horrible anthems about Big 4 firms. Who can forget such classics as “Making an Impact That Matters” about Deloitte, “EY Anthem,” and “Your Worlds, Our People” about PwC. These sound like the songs […]

Friday Footnotes: Deloitte Sued; RSM Sued; PwC Not Sued But Incompetent | 10.15.21

‘What do you actually do?’: Redditors scratch heads at consulting firms [Yahoo News] We’ve often wondered about this too. Deloitte Workers Sue Over ‘Astronomical’ 401(k) Fees [Law360] Deloitte workers slapped the accounting giant with a proposed class action in New York federal court, claiming the company allowed two multibillion-dollar retirement plans to get saddled with […]

[UPDATED] PwC Australia Diversity and Inclusion Manager Who Mocked Chinese Accents Had to Be Told You Aren’t Supposed to Mock Chinese Accents

[Updated original post from Sept. 28 with additional information on PwC Australia’s internal investigation. Update is at the bottom of this article.] Australian Financial Review has a blockbuster of an exclusive this morning, one that involves “a human resources executive dressed as a bat from Wuhan” and a senior manager of diversity and inclusion mocking […]

A Big 4 Firm Being Untruthful? You Don’t Say!

From the Financial Times yesterday: A senior KPMG partner advanced an “untruthful” defence at a disciplinary hearing into the accounting firm’s misconduct in the sale of bedmaker Silentnight to a private equity fund, a tribunal has found. The tribunal also found that KPMG and David Costley-Wood, the partner who led the Silentnight work, had failed […]

2022 Projected Public Accounting Salaries In Eight LCOL Cities

Our series of articles based on the Robert Half 2022 Accounting & Finance Salary Guide continues as we look at public accounting starting salaries in eight low cost of living cities that have a Big 4 presence and a national accounting firm presence (i.e., RSM US, BDO USA, Grant Thornton). Most of these cities are […]

Poaching News Roundup: 10.13.21

A recap of recent non-Big 4-on-Big 4 poaching news throughout the accounting profession. BDO Stefan Beyers joined BDO UK’s financial services team as an audit partner. He has a boatload of experience in audit and advisory engagements for banking and capital markets clients. He previously worked at PwC for 19 years, most recently as a […]

Early Black-Owned CPA Firms Pushed For Diversity Before Pushing For Diversity Was Cool

Firms established by pioneering Black CPAs decades ago created an indelible legacy within the accounting profession. Built by Black CPAs who succeeded despite adversity, the firms continue to play an important role in the profession’s recruitment and advancement initiatives, and with the clients they serve. Here are a few examples. Guiding others along the journey […]

Friday Footnotes: Firm Fined For Data Breach; Deloitte Named Most Attractive; EY Expands Legal Arm | 10.8.21

FRC’s changes to fraud auditing standard explained [ICAEW Insights] The Financial Reporting Council (FRC)’s UK Auditing Standard on Fraud (ISA (UK) 240) has been significantly updated for the first time in 16 years. The changes are a response to recent public discussions on the role of audit in identifying fraud, including high profile cases in […]

Promotion Watch ’21: KPMG US Admits 170 New Partners

The partnership at KPMG grew by 170 people earlier this month, as 120 men and 50 women were outfitted with new golf attire before being handed keys to the club by Chair and CEO Paul Knopp and Deputy Chair and COO Laura Newinski. This latest class of new partners (for FY 2022) is larger than […]

2022 Projected Public Accounting Salaries In Eight MCOL Cities

Earlier this week we looked at public accounting starting salaries in five of the most expensive US cities to live in and how much higher they are than the projected national averages recently published in the Robert Half 2022 Accounting & Finance Salary Guide. A discussion you often see among professionals on Fishbowl and Reddit […]

Maine’s ‘Utterly Unqualified’ State Auditor Just Stepped Down Because He Couldn’t Pass the Certified Internal Auditor Exam

In January of this year, seasoned bureaucrat Matthew Dunlap took the helm as state auditor in Maine despite having no background in accounting, much less auditing. Rather, he has a bachelor’s degree in Roman history and a master’s in English literature, the former of which would come in handy should Maine have a vacant State […]

EY Poaches Someone From PwC and Issues a Press Release, Part VI

We have some Big 4-on-Big 4 poaching action in America’s Hat, as EY of the Canadian variety recently nabbed a partner from PwC. A new partner in EY’s Financial Services practice, Biswajit Das bends over backwards to provide CIO and COO advisory services for the Big 6 banks, insurance players, asset management firms, and large […]

Promotion Watch ’21: Moss Adams Admits 18 New Partners

Twelve men and four women were promoted from little Mosses to big Mosses in the latest new partner class at Moss Adams. And the firm recently poached two other of its newest partners from Big 4 firms. Here are the 18 newest partners at Moss Adams: *Kristina Allan, Irvine, CA Jeff Gay, Everett, WA Raj […]

Friday Footnotes: Deloitte’s Plush Profits; Britney’s New CPA Conservator; KPMG Gives a Partner the Boot | 10.1.21

Deloitte UK profits boosted by public sector pandemic work [Financial Times] Deloitte has confirmed a surge in UK profits helped by public sector contracts during the pandemic, saying that its work on the response to Covid-19 was “essential”. Revenues at the firm’s UK and Swiss businesses, which operate as a single partnership, rose 4.2 per […]

Despite a 2.6% Increase In 2021, Grant Thornton Couldn’t Catch BDO USA In the Midtier Firm Revenue Pissing Contest

This just in from the purple gang: Grant Thornton LLP, the U.S. member firm of Grant Thornton International Ltd., today announced record revenues of $1.97 billion for the fiscal year ended July 31, 2021. “In a changing and uncertain environment, we continue to remain agile and perform with excellence across our entire firm, including our […]

Which Firm Had the Most IPO Audit Clients In Q2 2021?

On this the last day of the third quarter, let’s take a look back at initial public offering activity in the second quarter of the year, which featured the biggest IPO since 2000 in terms of proceeds, according to Audit Analytics. There were 13 IPOs with proceeds greater than or equal to $1 billion last […]